The property market has cooled, auction results clearance rates have dropped. Closer to 25% compared to 60% during heated times.
Opportunities are starting to present themselves, however as always if the focus is cashflow, its important to bear in mind all the factors. Tax changes means, taxes on rent income that you may never see.
Apartments in central Auckland have been suffering from many aspects, which may see a u-turn in the coming years. International students and road works are two factors which will change the landscape only for the better in the years ahead.
Looking at the zoning rules changes in the horizon, property with even smaller parcels of land could mean more options in years to come.
